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Daniel Menseat 13:55

…sort of edge in the marketplace you know beyond just hitting the phones and trying to get a deal before the next operator gets the deal and you know affordable housing capital A was where I started to look because there is it's a bit more more esoteric of an industry right like a lot

Daniel Menseat 14:47

of affordable housing comes down to how you structure the financing right and then understanding tax code and and so forth not that I'd really get the tax code side of things but there's more barriers to entry you know I mean just anecdotally I can tell you when we used to like you know compete on properties here in La I knew it was time to start looking in you know at at another space when I was competing against you know soccer moms and soccer moms are great but I would about question you know the whether or not…

Daniel Menseat 15:37

…granted countertops and be like I'm a genius like look what I can do so that's kind of where um I started pivoting and looking more at more into the affordable housing

Daniel Menseat 16:24

mean capital A affordable is what we all know as like low-income housing tax credit deals like right which is um which basically our our our apartment buildings that get financed using tax credits and other public uh uh subsidies to go build um and then that all you know cap often times that would also these properties come with Project based vouchers which are basically having Section 8 vouchers attached to the property rather than looking for individual people who have section 8 vouchers but that's attached to…